||ORD EUR0.76 (DI)
||EPS - Basic
||Market Cap (m)
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Tiso Blackstar Share Discussion Threads
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|From today's interims, which take a bit of digesting, it seems to me they're going in the direction ST indicates but a bit slower. Nevertheless a 20% divi increase plus a special divi once KTH sale completes in May are both signs of confidence.
No mention of their Malta office relocation to London or a main market listing although they are raising the status of their za listing.
Hopefully ST will do a follow up on them.|
|Interesting play on a discounted asset.|
|Simon Thompson included these in his Bargain Shares 2017 last week, amongst other things he says:-
"...So, assuming disposals are achieved in line with the asking price, Tiso Blackstar will have a near £95m war chest available for new investments, as well as owning TMG outright. And there is clear value on offer here because TMG is valued in Tiso Blackstar’s latest accounts at £117m based on current exchange rates. However, with Tiso Blackstar’s market capitalisation of £146m a third below its spot NAV of £210m, then the implied value of the TMG investment is only £51m after factoring in a likely cash pile of £95m after all the asset sales go through. Given that TMG earned cash profit of £23.5m in its last financial year, then it’s effectively being attributed a valuation of just two times cash profit in Tiso Blackstar’s market capitalisation. And that low rating will become obvious for all to see when the company reports its next set of results for the half year to the end of December 2016. Also, there is a stark valuation anomaly with other listed African peers including Nairobi-listed Nation Media (NAI:NMG) and Johannesburg-listed Caxton and CTP Publishers (SJ:CAT), which are both rated on between 10 and 11 times post-tax earnings.."
Also says their move of reg office to London and eyeing a main market listing likely to put them on the radar of many.|
|There are some fund flows into s.africa plus buybacks
|Just popped in to say hello.
Thanks Lucky Mouse for setting up this thread.
Any reason for the rise ?|
poco a poco
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